MSTR

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0599%/8h= +65.6% APRnext payment +$0.75 per $10,000 · paid last 24h +0.180%

Price spread now: Deribit against Pacifica+0.106%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$360.363% of the position

Long on Pacifica Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.426%+$43 on $10k

Price spread, last 3 days (all we have)−0.044%−$4 · spread now +0.106%, 7d avg +0.044%

Together, before fees+0.381%+ Points / potential airdropPacifica: Active · farm board+$38 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Deribit is 0.062% dearer against Pacifica than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica MSTR	168.62	0.0100	pay 0.0013% / 1h	39m 57s	$104K	$85K	10x
Short	Deribit MSTR_USDC-PERPETUAL	168.80	0.0699	get 0.0087% / 1h	39m 57s	$287K	$438K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Pacifica. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PacificabpFee DeribitbpOrdersPrice spread, now +0.106%Rate

Funding earned: $125.74
Price spread: +0.106% → +0.044%: $6.16
Slippage, 4 orders: −$21.3
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $95.6
Costs to cover: 0.363%
Break-even: 1.7 days

Slippage from Pacifica: live order book, 32 min ago; Deribit: live order book, 34 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Pacifica live order book, 32 min ago	1.33 bp	5.3 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 34 min ago	7.40 bp	11.5 bp −$11	14.6 bp −$146	doesn't fit	doesn't fit

MSTR on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MSTR-PERP	−0.0084%	1h	168.54	−0.051%	$139K	$97K	3x	as long as short
Aster MSTRUSDT	0.0000%	8h	168.85	+0.137%	$1.2M	$6.1M	50x	as long as short
Bybit MSTRUSDT	0.0000%	8h	168.83	+0.123%	$15.2M	$39.4M	50x	as long as short
OKX MSTR-USDT-SWAP	0.0000%	8h	168.82	+0.117%	$21.7M	$102.3M	50x	as long as short
Gate MSTR_USDT	0.0000%	8h	168.92	+0.177%	$4.7M	$18.9M	50x	as long as short
Bitget MSTRUSDT	0.0000%	8h	168.90	+0.165%	$28.5M	$114.2M	25x	as long as short
Variational Omni MSTR	0.0000%	8h	168.74	+0.069%	$1.2M	$2.1M	—	as long as short
GRVT MSTR_USDT_Perp	0.0000%	8h	168.93	+0.185%	$85K	$860K	10x	as long as short
Phemex MSTRUSDT	0.0000%	4h	168.86	+0.141%	$2.9M	$66K	10x	as long as short
Lighter MSTR	+0.0032%	1h	168.86	+0.141%	$3.6M	$2.0M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MSTR_24_5-USD	+0.0032%	1h	168.70	+0.046%	$581K	$1.8M	10x	as long as short
QFEX MSTR-USD	+0.0035%	1h	168.65	+0.017%	$1.4M	$9.6M	10x	as long as short
BloFin MSTR-USDT	+0.0036%	8h	168.71	+0.052%	$1.1M	$1.9M	20x	as long as short
Arcus MSTR-USD	+0.0040%	1h	168.95	+0.195%	$27K	$118K	10x	as long as short
Vest MSTR-USD-PERP	+0.0046%	1h	168.71	+0.052%	—	$1.7M	25x	as long as short
Polymarket Perps MSTR-USD	+0.0050%	1h	168.65	+0.017%	$396K	$2.7M	10x	as long as short
SoDEX MSTR-USD	+0.0050%	1h	168.67	+0.029%	$44K	$3K	10x	as long as short
Ondo Perps MSTR-USD.P	+0.0050%	1h	168.93	+0.183%	$743K	$5.0M	10x	as long as short
Binance MSTRUSDT	+0.0062%	8h	168.83	+0.126%	$89.0M	$617.7M	50x	as long as short
Paradex MSTR-USD-PERP	+0.0088%	8h	168.60	−0.015%	$67	—	5x	as long as short
Coinbase International MSTR-PERP-INTX	+0.0088%	1h	168.46	−0.096%	$1.4M	$1.1M	10x	as long as short
Pacifica MSTRlong	+0.0100%	1h	168.62	long leg	$104K	$85K	10x
KuCoin MSTRUSDTM	+0.0100%	8h	168.85	+0.135%	$2.5M	$2.7M	20x	as long as short
ApeX Omni MSTRUSDT	+0.0100%	1h	169.08	+0.272%	$4K	$204K	50x	as long as short
Orderly PERP_MSTR_USDC_mythos	+0.0100%	8h	168.80	+0.106%	$3K	$8K	10x	as long as short
Aevo MSTR-PERP	+0.0104%	1h	168.77	+0.090%	$140	—	10x	as long as short
tradeXYZ xyz:MSTR	+0.0190%	1h	168.85	+0.135%	$57.0M	$35.5M	10x	as long as short
Injective MSTR/USDC PERP	+0.0235%	1h	169.34	+0.426%	$8K	$26K	30x	as long as short
Phoenix MSTR	+0.0259%	1h	169.03	+0.240%	$57K	$384K	10x	as long as short
RISEx MSTR/USDC	+0.0349%	1h	168.77	+0.085%	$275K	$434K	10x	as long as short
edgeX MSTRUSDC	+0.0574%	4h	169.07	+0.267%	$47K	$5.5M	10x	as long as short
Deribit MSTR_USDC-PERPETUALshort	+0.0699%	1h	168.80	+0.106%	$287K	$438K	10x